Keudell Morrison Wealth Management lowered its stake in shares of Waste Management, Inc. (NYSE:WM – Get Rating) by 4.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,613 shares of the business services provider’s stock after selling 72 shares during the period. Keudell Morrison Wealth Management’s holdings in Waste Management were worth $256,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of WM. Steward Financial Group LLC bought a new position in shares of Waste Management during the 4th quarter valued at about $25,000. CarsonAllaria Wealth Management Ltd. bought a new position in shares of Waste Management during the 4th quarter valued at about $25,000. Amplius Wealth Advisors LLC bought a new position in shares of Waste Management during the 4th quarter valued at about $27,000. Mizuho Securities Co. Ltd. bought a new position in shares of Waste Management during the 1st quarter valued at about $32,000. Finally, SOA Wealth Advisors LLC. lifted its holdings in shares of Waste Management by 51.5% during the 4th quarter. SOA Wealth Advisors LLC. now owns 206 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 80.37% of the company’s stock.
NYSE:WM opened at $148.88 on Wednesday. The firm has a market capitalization of $61.82 billion, a price-to-earnings ratio of 32.79, a price-to-earnings-growth ratio of 2.49 and a beta of 0.80. Waste Management, Inc. has a twelve month low of $138.58 and a twelve month high of $170.18. The stock’s 50 day moving average price is $155.53 and its two hundred day moving average price is $155.04. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.83.
Waste Management (NYSE:WM – Get Rating) last posted its quarterly earnings results on Tuesday, April 26th. The business services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.17. The firm had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.45 billion. Waste Management had a return on equity of 29.67% and a net margin of 10.32%. The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.06 EPS. As a group, analysts anticipate that Waste Management, Inc. will post 5.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend was Thursday, June 2nd. Waste Management’s payout ratio is currently 57.27%.
In other Waste Management news, EVP John J. Morris sold 47,006 shares of the company’s stock in a transaction on Thursday, April 28th. The stock was sold at an average price of $168.10, for a total value of $7,901,708.60. Following the transaction, the executive vice president now directly owns 95,461 shares of the company’s stock, valued at approximately $16,046,994.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Leslie K. Nagy sold 2,668 shares of the company’s stock in a transaction on Thursday, April 28th. The shares were sold at an average price of $169.72, for a total value of $452,812.96. Following the completion of the transaction, the chief accounting officer now directly owns 4,880 shares in the company, valued at $828,233.60. The disclosure for this sale can be found here. Insiders have sold a total of 59,985 shares of company stock worth $10,072,025 over the last three months. 0.18% of the stock is owned by insiders.
WM has been the topic of several research reports. StockNews.com upgraded Waste Management from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 28th. JPMorgan Chase & Co. initiated coverage on Waste Management in a research note on Tuesday, March 1st. They issued a “neutral” rating and a $153.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on Waste Management from $157.00 to $167.00 in a research note on Thursday, April 28th. Raymond James boosted their target price on Waste Management from $167.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, April 22nd. Finally, BMO Capital Markets cut Waste Management from an “outperform” rating to a “market perform” rating and set a $174.00 target price on the stock. in a research note on Tuesday, April 12th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $163.00.
About Waste Management: (Get Rating)
Waste Management, Inc., through its subsidiaries, provides waste management environmental services to residential, commercial, industrial, and municipal customers in North America. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns, develops, and operates landfill gas-to-energy facilities in the United States, as well as owns and operates transfer stations.
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